Black Hills (BKH) FY2015 results: revenue $1.3 billion, down 9.5% on the year
Black Hills Corp. (BKH) reported revenue of $1.3 billion for fiscal 2015, the year ended 31 December 2015, down 9.5% on the year before. Net income was -$32 million, and diluted earnings per share $-0.71. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$1.3 billion
-9.5% on the year
FY2008FY2015
Operating margin
23.8%
18.9% a year earlier
FY2008FY2015
Net income
-$32 million
FY2008FY2015
Diluted EPS
-$0.71
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,261
1,394
1,276
-9.5%
Operating income
300
264
259
+13.9%
Operating margin
23.8%
18.9%
20.3%
Interest expense
84.7
71.0
112
+19.3%
Pre-tax income
220
198
181
+11.5%
Income tax
78.7
66.6
63.0
+18.1%
Effective tax rate
35.7%
33.7%
34.7%
Net income
-32.1
131
115
Net margin
-2.5%
9.4%
9.0%
Diluted EPS
-$0.71
$2.93
$2.59
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
424
315
325
+34.6%
Capital expenditure
266
398
355
-33.2%
Free cash flow
158
-83.2
-30.1
Free cash flow margin
12.5%
-6.0%
-2.4%
Cash from investing
-476
-401
-349
Cash from financing
484
91.1
17.0
+431.1%
Depreciation and amortisation
127
145
137
-12.6%
Share-based compensation
4.1
9.3
12.6
-56.3%
Dividends paid
72.6
69.6
67.6
+4.3%
Dividend per share
$1.62
$1.56
$1.52
+3.8%
Diluted shares, weighted
45m
45m
44m
+1.5%
Shares outstanding at period end
51m
45m
44m
+14.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,466
1,354
1,284
+8.3%
Debt
1,930
1,618
1,479
+19.3%
Other liabilities
1,230
1,274
1,075
-3.5%
Total liabilities and equity
4,627
4,246
3,838
+9.0%
Fixed assets
3,259
3,205
2,953
+1.7%
Goodwill
360
353
353
+1.8%
Intangible assets
3.4
3.2
3.4
+6.4%
Investments
12.0
17.3
16.7
-30.7%
Cash and equivalents
441
21.2
7.8
+1,977.8%
Receivables
147
190
178
-22.4%
Inventory
86.9
91.2
88.5
-4.7%
Other assets
317
364
237
-12.9%
Total assets
4,627
4,246
3,838
+9.0%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.